Phenol Price Trend

Phenol Prices December 2023

The price trend experienced by phenol market in the USA reached 1415 USD/MT during the fourth quarter of 2023. The thriving construction industry in the country strengthened the demand for phenol. The U.S. Manufacturing Purchasing Managers' Index (PMI) increased to 50.0 from 49.8 in October.

In China, the prices for phenol experienced fluctuations during the fourth quarter of 2023 and reached 1120 USD/MT. The low demand from the downstream Bisphenol A industries negatively impacted the phenol prices in the country.

During the fourth quarter of 2023, the prices of phenol in Europe witnessed a downward trend and reached 1190 USD/MT. This trend is attributed to moderate to low demand from the Bisphenol A industries in the region. In December 2023, the INEOS Phenol plant got shut down but had no significant impact on phenol supply in the domestic market.

Phenol Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Phenol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of phenol pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of phenol at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of phenol price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing phenol price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Phenol Market Analysis

The global phenol market size reached US$ 23.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 33.6 Billion, at a projected CAGR of 4.00% during 2023-2032.

• Phenol is widely used to manufacture plastics, especially polycarbonates and epoxy resins, both of which are essential precursors in the electronics, automotive, and construction industries.
• The production of phenol experienced an upward trajectory due to innovations in the production process of phenol, leading to more cost-effective and efficient manufacturing methods, consequently lowering prices and increasing market supply.
• According to the report of the National Center for Biotechnology Information (NCBI) [2021], every year 3 billion kilograms of pesticides are used worldwide. The growing employment of phenol in manufacturing pesticides to prevent the negative impact of pests in agricultural practices is offering a favorable market outlook.
• Stringent environmental regulations to reduce the impact of chemical pollution in the environment are leading to the development of more sustainable production processes of phenol, along with new formulations that do not corrode the environment.
• The wide availability of benzene and propylene, derived from crude oil, is positively influencing the phenol market, as they play a crucial role in producing phenol.
• The burgeoning cosmetics industry is catalyzing the demand for phenol due to its utilization as an active ingredient in sunscreens and skin lighting creams. As per IMARC Group’s report, the global cosmetics market is expected to reach US$ 618.7 Billion by 2032 as compared to US$ 400.6 Billion in 2023.
• The demand for phenol is further amplified by its use in the production of several chemical compounds, such as lubricants, dye stuffs, and plasticizers.
• People are preferring more environment friendly and sustainable products, which, in turn, is driving the demand for phenol, particularly to produce biodegradable plastics and other green alternatives around the world.
• Several developing countries are experiencing rapid urbanization and industrialization across the globe. This represents one of the key factors catalyzing the demand for phenol in the construction and consumer goods industries.

Phenol News

The report covers the latest developments, updates, and trends impacting the global phenol market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in phenol production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the phenol price trend.

Latest developments in the phenol industry:

• In 2023, Cepsa Quimica SA produced circular phenol from discarded single-use plastics, such as plastic bags and cutlery, to reduce plastic pollution.
• In 2023, INEOS Phenol acquired Mitsui Phenols Singapore Ltd from Mitsui Chemicals to add Jurong phenol and BPA asset in their existing portfolio.

Product Description

Phenol, widely known as carbolic acid, is an aromatic organic compound, comprising a phenol group with hydroxyl group. It is a colorless to white crystalline solid that has a peculiarly sweet and tar-like odor.

Primarily produced synthetically in laboratories, traditionally phenol was derived from coal tar. Nowadays, it is produced through the oxidation of cumene to form cumene hydroperoxide, which is further split into phenol and acetone.

It is widely used to produce phenolic resins, which are essential raw materials as adhesives and binders in the automotive, construction, and electronics industries. Its efficiency in manufacturing polycarbonates and epoxy resins, used in protective coatings and DVDs, highlights its versatility and role in various applications. It also plays a critical role in the pharmaceutical and agriculture industries to synthesize various medicines and pesticides.

Regional Coverage

The report provides a detailed analysis of the phenol market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the phenol price trend.

Global Phenol Price

The report offers a holistic view of the global phenol pricing trends in the form of phenol price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of phenol but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed phenol demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Phenol Price

The European region experienced a bearish trend for the prices of phenol in the fourth quarter of 2023. This trend can be attributed to the moderate to low demand from the downstream Bisphenol A industries and consistent inflationary pressures that thrashed purchasing power of end-use industries in the region. Although, despite limited production activities, there were adequate finished goods.

This analysis can be extended to include detailed phenol price information for a comprehensive list of countries.

North America Phenol Price

In North America, the prices of phenol witnessed an upward trajectory during the fourth quarter of 2023. The demand from the upstream Bisphenol A industries increased, thereby positively influencing the sales of phenol in the region. Capacity restrictions and labor issues got resolved at Panama Canal, further contributing to this trend. However, the rates of downstream manufacturing firms do not rebound, which had negative impact on the market.

Specific phenol historical data within the United States and Canada can also be provided.

Middle East and Africa Phenol Price

The report explores the phenol pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on phenol prices for countries can also be provided.

Asia Pacific Phenol Price

During the fourth quarter of 2023, the prices for phenol witnessed a bearish trend owing to several factors. The low demand from Bisphenol A industries and increased crude oil prices in the USA negatively impacted the prices of phenol in the region. Moreover, the availability of phenol remained moderate to low due to decreased demand from the Chinese market.

This phenol price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Phenol Price

The analysis of phenol prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of phenol pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting phenol price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The phenol price charts ensure our clients remain at the forefront of the industry.